Television

News Corp to acquire IGN Entertainment for $650 million

MUMBAI: News Corporation announced today that it had signed a definitive agreement to acquire IGN Entertainment, Inc, a leading community-based Internet media and services company for video games and other forms of digital entertainment, for approximately $650 million in cash.

IGN and its network of sites will become part of News Corporation's Fox Interactive Media unit.

 

 

With the addition of IGN, Intermix and Scout Media (both the latter two deals are in the process of being closed) to the existing Fox-branded sites, News Corp's asserts that its US web traffic will increase to nearly 70 million unique monthly users and more than 12 billion page impressions per month. The combined sites will also provide a powerful cross-promotional opportunity for Fox's television and film content and enable the company to more efficiently introduce new products and services using its enhanced web presence.

The IGN transaction is expected to close in the fourth quarter of calendar 2005. IGN chief executive Mark Jung will continue in his role following the completion of the acquisition. Jung will report to Fox Interactive Media president Ross Levinsohn.

 

 

IGN's major video game-related properties include IGN.com, GameSpy, GameSpy Arena, FilePlanet, TeamXbox, 3D Gamers, Direct2Drive, GameStats.com and a number of web sites within the Vault and Planet networks. IGN also owns and operates two entertainment web properties focused on movie-related content, IGN FilmForce and Rotten Tomatoes, and a male lifestyle web site, AskMen.com. In addition, it provides technology for online game play in video games.

Said News Corporation chairman and chief executive Rupert Murdoch, "With the acquisition of IGN and its 28 million unique users, we have gone a long way toward achieving two of our key strategic objectives in our efforts to become a leading and profitable Internet presence. First, we have significantly enhanced our online reach, strengthening our position as the fifth most trafficked presence on the web. We also become the fourth largest network in terms of monthly page impressions. And second, we have furthered our strategy to leverage the unique competencies the company enjoys with its news, sports, and entertainment assets to create a leading Internet destination. By acquiring IGN and its compelling sites, we now have top entertainment sites to go along with FOXSports.com, as well as our myriad news sites, headlined by FOXNews.com."

The IGN acquisition cames at a time when Murdoch has summoned his senior most executives for the second web summit in seven months on News Corporation's Internet strategy. The group’s executive committee will meet this weekend near Murdoch’s ranch in California, media reports say. According to the reports, Murdoch said he had earmarked up to $2 billion for Internet acquisitions.

The February summit in New York marked a distinct strategy change for Murdoch, who had not shown much enthusiasm in Internet investments after the late 1990s. He said that media groups had to reinvent themselves to meet the demands of the “iPod generation”, which was bypassing traditional suppliers by consuming news and entertainment online. Murdoch's strategy was given a boost by the announcement by Prince Alwaleed, who expressed his “utmost confidence in Murdoch, his management team and his succession planning.”

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/barc.jpg?itok=kx6b-VfJ
BARC to host digital measurement roadshows in Delhi, Mumbai & Bengaluru

After setting up a robust TV viewership measurement system, BARC India is gearing for a successful launch of EKAM, its digital viewership measurement venture. In keeping with its policy of transparency and inclusivity, BARC India, is hosting a series of multi-city roadshows for members of the...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/MLS.jpg?itok=xZTjwzip
Major League Soccer to implement 'video review' from 5 August

MUMBAI: Major League Soccer has confirmed that, beginning 5 August, all MLS games, including the Audi 2017 MLS Cup Playoffs and MLS Cup, will incorporate Video Review. Headquartered in New York City, Major League Soccer features 22 clubs throughout the United States and Canada.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/Ajay-Devgn.jpg?itok=AVQjeNtC
Star Gold premieres 'Dhruva' on 23 July, Ajay Devgn lends voice

MUMBAI: Star Gold claims to have has become synonymous with setting new benchmarks for every film it premieres and the channel now takes it a notch higher by becoming the first Hindi Movie Channel to get a Bollywood megastar to dub for a movie Premiere.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/monica-tata-800x800_0.jpg?itok=1aBkaKIE
Scope for BTVi & two channels in biz genre, says Megha Tata

MUMBAI: While assessing business news viewership to be less than one per cent of the 183-million television viewing homes, BTVi aims to be among the top three channels as it grows two and a half times in six months flat. Business Television India (BTVi) will complete a year in August 2017 and its...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/Ayushamaan%20Bhava.jpg?itok=_x3TbdkE
Life OK rebranded as Star Bharat may start from 15 Aug

MUMBAI: Star India is planning to relaunch its existing general entertainment channel -- Life OK, renamed as Star Bharat. The channel plans to have modern outlook but Indian feel. According to reports, it will be relaunched with the new look on 15 August. Since 2011, the channel will be branded...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/20/queens.jpg?itok=zUgXlMIj
TLC to launch India's first-ever women's comedy show on 24 Sept

The comedy genre has exploded over the last few years in India with new comedy clubs sprouting and stand-up comedians achieving celebrity status. However, the limelight seems to be squarely focused on the men with very few women making a mark in this burgeoning space. Given the scenario, TLC, India...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/20/Vishal%20Gurnani.jpg?itok=MiXlW0gd
Dishum plans to break even in 3 yrs & a network soon, says Vishal Gurnani

MUMBAI: Vishal Gurnani-owned Dishum Broadcasting has announced the launch of its first Bhojpuri general entertainment channel Dishum. The channel will go live on 15 August. “To cater to 220 million population in India which understands and speaks Bhojpuri, there is only one GEC channel, that is...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/19/DD-800x800.jpg?itok=bForoF4g
Doordarshan to acquire programmes for DD Kashir

NEW DELHI: Doordarshan has invited proposals from reputed Producers/ production houses for its 24x7 satellite channel DD Kashir under Fixed Budget Mode of Programmes Acquisition Category. These will be for telecast in accordance with the “Guidelines for Acquisition of Programmes.” Last date for...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/19/game-on-thrones.jpg?itok=4BjXsl-D
Game of Thrones Season 7 starts on Hotstar, minutes after US showing

The highly anticipated premiere of Game of Thrones Season 7 launched on video-on-demand platform Hotstar on 17 July, with the first episode of the new season available for the audience to view within minutes of its American telecast.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories